Sydney, Australia, 1 June 2023: Jaxsta Limited ACN 106 513 580 (Jaxsta or the Company, ASX: JXT) the world’s largest database of official music credits has successfully completed the acquisition of Vampr to add the world's largest social network for musicians to its operations.
The Company obtained shareholder approval for the transaction on 30 May 2023 and subsequently successfully completed the conditions precedent required in the Share Purchase Agreement.
As part of the completion, the Company has:
- Issued 88,734,476 fully paid ordinary shares to Vampr shareholders with a one year escrow;
- issued a convertible note for up to 8,000,000 shares to David Rickert; and
- 3,000,000 unlisted options to Josh Simons on the terms specified in the Share Purchase Agreement.
Beth Appleton, Jaxsta’s CEO stated “Vampr officially has joined the Jaxsta family. We have been working together since February to ensure an immediate and seamless integration and positive impact on our Company’s results. We will continue building on the excellent growth Vampr has achieved. The future of our company is at an exceptionally exciting stage. With continued revenue growth and customer acquisition across Jaxsta, Vampr and Vinyl, we are now cementing our foundation as the connected solution for Creators and Music Fans”
Josh Simons, Founder of Vampr and now Chief Strategy Officer of Jaxsta added “We have compelling prospects ahead to build unprecedented services that will excite music creators and fans alike. There is an exceptional growth opportunity with our combined solutions, and I look forward to building upon these to cement our unique position within the industry.”
Jaxsta is the world's only official music credits database. It contains more than 330 million official, deep-linked music credits across 105 million pages, sourced from over 352 data partners, including record labels, publishers and industry associations. Jaxsta's data is mapped to the world's charts and can provide world-first insights including custom repertoire reports to ensure industry organizations can map music ownership and revenue. Jaxsta is a key solution to the music industry's metadata problem.